Dutch GDP Grows More Than Initial Estimate In Q3
The Dutch economy grew more than initially estimated in the third quarter, final data from Statistics Netherlands revealed Thursday.
Gross domestic product expanded 7.8 percent sequentially in the third quarter, reversing an 8.5 percent decline seen in the second quarter. The third quarter rate was revised up from 7.7 percent.
On a yearly basis, GDP shrank 2.5 percent, but slower than the 9.4 percent decline posted in the second quarter.
The expenditure-side breakdown showed that household consumption was revised down while government spending growth was upwardly revised. Household spending moved up 8.9 percent and government expenditure rose 7.2 percent sequentially.
Gross fixed capital formation also climbed 7.2 percent in the third quarter. Exports of goods and services advanced 8.3 percent and imports of goods and services rose 6.7 percent.
Data showed that employment increased by 165,000 in the third quarter from the previous quarter.